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Rating:Russell Scales Back Its $300MM ETF Business Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, August 07, 2012

Russell Scales Back Its $300MM ETF Business

News summary by MFWire's editors

Russell Investment [profile] is making a "strategic review" of its ETF business, laying off about thirty workers, Bloomberg Businessweek reports.

In a statement, Russell said it will focus on its core role of providing multiasset solutions to investors and advisors.

A Russell spokesman told Bloomberg Businessweek that the Seattle-based money managers planned to cut the thirty positions in its New York and San Francisco offices.

Russell's ETFs hold about $300 million in assets, and the firm manages $152 billion in total, the article states.  

Edited by: HFD


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